Bitcoin dropped below $27,000 for the first time since December 2020, down 15% in 24 hours; Ether drops to as low as $1,750, its lowest level since July 2021 (Ryan Browne/CNBC)

Ryan Browne / CNBC:
Bitcoin dropped below $27,000 for the first time since December 2020, down 15% in 24 hours; Ether drops to as low as $1,750, its lowest level since July 2021  —  – The price of bitcoin plunged as low as $26,595.52 Thursday morning, hitting its lowest level in over 16 months.